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CHICAGO, March 13, 2019 /PRNewswire/ -- According to the new market research report "Microencapsulation Market by Technology (Spray, Emulsion, Dripping), Core Material (Pharma & Healthcare Drugs, PCM, Food Additives, Fragrances), Application (Pharma, Household, Agrochemicals, Textiles), Shell Material, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global Microencapsulation Market was valued at USD 6.3 billion in 2018 and is projected to reach USD 11.8 billion by 2023 at a CAGR of 11.4% from 2018 to 2023. The market is driven by factors such as the increasing demand for fortified food products with health benefits, the increasing demand for agrochemicals due to its controlled release property, growth in construction and construction materials, as well as the widespread application in household & personal care.

The pharmaceuticals and healthcare drugs segment, by application, is estimated to account for the largest share in 2018

Based on application, the microencapsulation market is segmented into pharmaceutical & healthcare products, household & personal care products, food & beverages, agrochemicals, textiles, construction materials, and others. The pharmaceuticals and healthcare drugs segment is estimated to account for the largest market share in 2018. The rising demand for pharmaceutical drugs is expected to drive the demand for the market.

The emulsion technologies segment, by technology, is estimated to witness the fastest growth in the microencapsulation market in 2018

By technology, the microencapsulation market is segmented into spray technologies, emulsion technologies, dripping technologies, and others. The emulsion technologies segment is projected to record the highest CAGR. The demand for emulsion microencapsulation is increasing due to the simplicity of the process, process safety, and its cost efficiency.

North America is estimated to dominate the microencapsulation market in 2018

North America accounted for the largest market share of the microencapsulation market in 2017. The market for microencapsulation in the North American region is driven by the growing demand and awareness for value-added products in various areas such as nutrition, food, healthcare, and personal care. Due to this awareness and increased demand, companies are focusing on manufacturing functional products, with novel technologies such as microencapsulation.

This report includes a study on the marketing and development strategies, along with a study on the service portfolios of the leading companies. It includes the profiles of leading companies such as BASF (Germany), Royal FrieslandCampina (Netherlands), Syngenta Crop Protection (Switzerland), Koninklijke DSM (Netherlands), Givaudan (Switzerland), Firmenich (Switzerland), Symrise (Germany), International Flavors & Fragrances (US), Sensient Technologies (US), Lycored Corp. (UK), Balchem Corporation (US), Encapsys (US), Arcade Beauty (US), and Koehler Innovative Solutions (Germany).

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